refineries closing
#1
The refinery that produces 20% of the UK's petrol is facing bankruptcy and there's panic buying of petrol happening in the country
There's probably a bit of corporate skullduggery involved, but prima facie the refinery doesn't have a lot of debt sitting on it, and the owners are blaming lack of demand from the pandemic.
If the future is electric, then this story will be repeated and refineries will close once they become unprofitable, long before actual demand for petrol dwindles to zero.
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#2
Ain't that what happened to stables?
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#3
(09-26-2021, 07:11 PM)RiverNotch Wrote:  Ain't that what happened to stables?

Er... not exactly.

A quick dive in DuckDuckGo seems to indicate two points of failure here.

(1) UK truck drivers are mistreated in quite a few ways (at least compared to US truckers) which is only one of several reasons there's a shortage of drivers.  Others relate to Brexit (no European drivers, they're penalized in various ways which are also fairly complex).  And they're underpaid, and recently they seem to be organizing with suspicions that this is a work-to-rule or other slowdown plot.  Quite a mess.  In the US drivers were declared "critical" for COVID since they had to supply everyone else who stayed self-quarantined; in the UK the govt instead shut down all facilities including truck stops ("laybys") and driver certification the govt itself demands.

(I did some long-distance driving in the US during COVID - rest stops were kept open and, mostly, much cleaner than before... reeking of disinfectant, for one thing.)

(2) The refinery in question is being socked with a huge tax (VAT) bill which had been allowed to accumulate during COVID but must now be paid... at a time when sales are still low so they don't have current revenue to pay it and sales are crashing due to the drivers' plot.  This is one of those delightful British pickles, like the one where at the end of WW1 the aircraft companies that had got the country through the war were slapped with gigantic tax bills for their trouble.  That's how Sopwith became Hawker:  Sopwith went bankrupt and the staff moved down the street under a new name.

It's said success has many fathers but failure is an orphan.  In this case, it's failure with a massive family tree.

P.S. Mass conversion to electric cars is like fusion power - always 10-20 years in the future no matter how much money is thrown at it (in the case of electric cars, the hope-interval is as little as 5 years to some politicians).  Trust me on this:  we'll have autopiloted cars (and trucks) before we have either majority-electric.
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#4
Electric cars have come a long way. The technological breakthrough was made a long time ago, but it wasn’t until China got into the midstream game that prices have crashed. A bit like solar, where no one saw in 2012 where prices would go in 2020. I consult in the mining and energy industries, so am dealing with the data every day.
The cost savings on driving an EV are too great to ignore, even with the higher upfront purchase price.
The main challenge for EVs at the moment is charging infrastructure. I tried to get an electric for my next car but didn’t find the network satisfactory where I live.

Fusion power is a completely different ball game.
The physics of confining the plasma at millions of kelvin hasn’t quite yet been worked out. The basic technological challenge of controlled fusion needs to be overcome before we start talking about regulation and economics.

And far less money thrown at electric cars than what we need 
The oil and gas industry treats the atmosphere as an open sewer and gets away with it.
There is only a single carbon capture project that is supposedly a success. Every other project has been a miserable failure including one in Western Australia where Chevron, having failed to cheat the tax office through dodgy transfer pricing, is now begging the govt to relax its condition of consent for the Gorgon LNG project. Read up about it.
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#5
Oh, I've heard of the awfulness experienced by truck drivers atm, just not in this detail. I think there's already a self-driving taxi service somewhere in the US, where its vehicles have a collective 1000+ years experience due to being connected to each other and all, making them so much safer than human drivers.
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